Forex Automatic Trading Robots

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Essential Components Required To Identify Best
Forex Automatic Trading Robots
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It is common nowadays for traders who are just
starting on trading to search for forex automatic
trading robots to execute trading on a day to day
basis. Even professionals do from time to time
require the help of their developed robots to
analyze, monitor their trades for them.
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The Market Is Full Of Forex Automatic Trading
Robots
With a plethora of forex automatic trading
robots out there that comprises from fully
automated trading strategies to trading signal
providers that promises the riches one can never
dream of, it is no wonder that there are many who
are let down by these promises.
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• From my research, I have discovered why so many
  of these automated trading robots do not work.
  They lacked the four basic trade setups that all
  traders have to go through when implementing
  their trading strategy.
• Opportunity recognition? Entry? Trade
  Management? Exit

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Ok, so this may seem obvious to those who have
been trading for some time but can a trader
identify them in a Forex automatic trading robot?
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Introducing Essential Components Of Forex
Automatic Trading Robots
These four components are essential to any type
of strategy including those found in forex
automatic trading robots.
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1. Opportunity Recognition
Spotting opportunities is actually not a
problem for most robots out there because that is
what their main purpose is for, to identify
opportunities to enter a trade. The robots should
help the trader to know what constitutes an
opportunity by having detailed rules within its
programming codes.
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2. Trade Entry
This is important. This is the part where
the robot will recognize an opportunity and make
that decision to enter a trade according to its
rules and conditions. This actually helps to
eliminate doubt and indecision from human by
doing all of these automatically. If any of the
robots requires a trader to make the decision of
trade entry with the signal provided, he must
know what strategy the robot is employing to
understand what the signal means to him.
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3. Trade Management
This is the part where the trade is ongoing
and a trader has to manage it effectively with a
clear objective mind. This is by far time
consuming and most robots out there should handle
the trade management process as it monitors the
market condition with its trading rules in place.
Stop Loss orders, partial closes and take profit
levels are important in this phase as these are
components that can make or break a traders
trade.
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4. Trade Exit
This is the final component of the trade
which is exiting from the opened position. This
carries the huge emotional stress as normally a
trader may establish an ownership bias of the
trade he has opened. It carries the profits or
losses of the trade. But a good robot will
determine the exit position through objective
analysis by its rules, therefore eliminating
stress and emotional aspect of trading.
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Forex Automatic Trading Robot Summary
So from this four basic components that
every forex automatic trading robots should have,
a trader has to keep on a lookout and try out the
robots to see which of them suits his trading
style the best. Any component that is lacking in
the forex automatic trading robots will bring
about bad trading opportunities and in future,
bad losses in trades.
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